TODAY AGRI COMMODITY MARKET NEWS & REPORT UPDATE 30 MARCH 2017.

AGRI COMMODITY MARKET OUTLOOK

Soybean

Soybean April futures closed higher for the second consecutive day on Wednesday on low level buying by the market participants The meal exports also support the prices coupled with slower arrivlas. According to SEA, India's soymeal exports are likely to be around 200,000 tonnes in March, higher than last March's record low of 430 tonnes due to good demand from European and Asian countries. The supplies have been decreased drastically this week compared to previous week. As per Agmarknet, arrivals of soybean during 27-29 Mar were about 50,611tonnes Vs 50,611 tonnes during previous week.

Refine Soy Oil

Refined soy oil futures fell a little tracking weak demand from the physical market. There is positive sentiments among market participants after government allowed bulk exports from the country. In a major policy shift, the Govt opened up the exports of edible oils such as groundnut oil, soybean oil and sesame oil in bulk quantities. However, expectations of bumper oilseeds output and higher availability of edible oil in the country and lower base import price of soyoil is pressurizing prices earlier.

Jeera

Jeera April futures closed lower on Wednesday on profit booking from higher levels. Moreover, the Exchange will impose a 5% additional margin on all running as well as yet-to-be-launched futures contracts of jeera, on both buy and sell positions, from tomorrow (Friday). The arrivals have been good during the second half of current month compared to last month same period. As per Agmarknet data, during Mar 15-19 about 23,377 tonnes of jeera arrived compared to 12,266. Market participants are expecting good exports demand in coming months. On the export front, India in 2016-17 is likely to cross 1.2 lt against 94,352 tonnes a year ago while in first 9 month of marketing year 2016/17, the exports increase by 36.7% to 93,724 tonnes as per the data release by Dept of commerce, GOI. As per second advance estimates for 2016/17, production of Jeera in Gujarat will be 2.21 lt, down almost 11% compared to last year production of 2.38 lt.

Turmeric

Turmeric closed lower on Wednesday due to good arrivals and lower physical demand. The turmeric arrivals in the country is on higher side during second half of March to 79,534 tonnes compared to 63,965 tonnes during last month same period, as per the Agmarknet data. On the export front, country exported about 82,115 tonnes during April-Dec period, up by 28% compared to last year exports of 64,105 tonnes, as per government data.

AGRI COMMODITY MARKET LEVELS

JEERA

P. POINT-18,255

S1 - 18150                                                          R1 -18450

S2 –18000                                                          R2 -18600

SOYABEAN

P. POINT-2887

S1 - 2870                                                             R1-2900

S2 - 2860                                                             R2-2915

CORIANDER

P. POINT-7494

S1- 7467                                                               R1-7506

S2- 7454                                                               R2-7532

R.M SEED

P. POINT-3964

S1 - 3946                                                              R1-3980

S2 - 3930                                                              R2-3998

TURMERIC

P. POINT-6328

S1- 6300                                                                R1-6370

S2- 6265                                                                R2-6410